Remain long | 02 July 2020
02 July 2020, USD/JPY
Technical observation
USD pulled back to a supportive zone it established around 107.49-107.40 but did not break below it. Currently this pair is trading with an increasing bullish momentum within the zone and I expect this upwards movement to continue to the resistance line 108.44 followed by a possible breakout above it for a further surge to the upper side. I bought this pair within the zone mentioned above and I am holding on to it with my take profit at 108.44 and sop loss at 107.07. On the 4-hour chart above, we can only anticipate bearish movements of price below the supportive zone 107.49-107.40 towards the key level 106.44.
Trade recommendation
Remain long with your take profit at 108.44.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
